Home Solar

[USA in a Chevrolet]

I’m using the off topic forum to share a way that we save money. I installed solar on my home almost 4 years ago. We live in Florida & travel about 6 months each year to escape the heat & humidity. All the time we are gone my solar at home is making power & building credit on our electric bill. Consequently I haven’t had an electric bill in 4 years.

Just a thought if this might work for you also.

[Sportsdad60]

Have you calculated how much invested and how many years before break-even?

[USA in a Chevrolet]

Have you calculated how much invested and how many years before break-even?

Yes. Here was my thought process. The net cost for the system after the tax credit was $18500. The system is an Enphase system with 25 year warranty on components & labor. My annual electric bill before solar was about $2000. So at 10 years I will save $20000 or more on electric bill. Another way to look at it is that I’m getting a 10% return each year on my investment of $18500. I know it’s more complicated but it’s my feeling I did the right thing.

[jleonard]

A friend in my same neighborhood just decided to go solar and the payback is about 14 years, depending on the annual increases from Duke Energy.
That's not attractive enough for me right now.

[Ynot4me2]

Yes. Here was my thought process. The net cost for the system after the tax credit was $18500. The system is an Enphase system with 25 year warranty on components & labor. My annual electric bill before solar was about $2000. So at 10 years I will save $20000 or more on electric bill. Another way to look at it is that I’m getting a 10% return each year on my investment of $18500. I know it’s more complicated but it’s my feeling I did the right thing.

is it a whole house system? And a typical house, AC, washer and dryer...... I ask because a know a few people that are completely off grid and when you talk them they say that they are fully solar but when you go there, their system is really only 5kw or something like that. Most of their appliance are propane. No TV or stuff like like that. Don't get me wrong, its OK just maybe not for everyone.

[Hoopy Frood]

Yes. Here was my thought process. The net cost for the system after the tax credit was $18500. The system is an Enphase system with 25 year warranty on components & labor. My annual electric bill before solar was about $2000. So at 10 years I will save $20000 or more on electric bill. Another way to look at it is that I’m getting a 10% return each year on my investment of $18500. I know it’s more complicated but it’s my feeling I did the right thing.

If you got a ROI of 10% on $18,500, after 10 years you would have nearly $45,000. So you didn't do bad at all, not great, but not bad. But finding a guaranteed 10% ROI is pretty hard, especially over 10 years. Of course if you financed any of the installation then it's not so good.

[openrangeowners]

We installed a home ground mount system 13.2KW over 7 years ago. It recently paid for itself completely based on SREC credits and generated power. We generate about 18 Megawatts a year with solar. It is grid-tied and we have net billing so we get the full benefit of whatever we generate with respect to retail electrical costs in our BG&E (Maryland) area. We did have a 30% tax credit on the total cost of the system (we purchased it outright).

We did have a tornado go over the house and dislodge 2 panels - it cost us about $400 to have them remounted and new optimizers installed (the electrical connections were ripped out of them). The company that installed the panels was out two days after the storm so we only lost a day of generation. The panels were not harmed at all. Pretty impressive.

I have solar on the camper now as well and don't plug in unless I am getting ready for a trip (then I run the AC and fridge on electric).

[USA in a Chevrolet]

is it a whole house system? And a typical house, AC, washer and dryer...... I ask because a know a few people that are completely off grid and when you talk them they say that they are fully solar but when you go there, their system is really only 5kw or something like that. Most of their appliance are propane. No TV or stuff like like that. Don't get me wrong, its OK just maybe not for everyone.

It is a 10 KW system. 2100 SF house total electric in Florida. As I said we are away several months a year & I have net metering so my excess production is surplus dollars for me

[USA in a Chevrolet]

If you got a ROI of 10% on $18,500, after 10 years you would have nearly $45,000. So you didn't do bad at all, not great, but not bad. But finding a guaranteed 10% ROI is pretty hard, especially over 10 years. Of course if you financed any of the installation then it's not so good.

I sold some stock I had for 30 years. Used proceeds to pay for system & used the solar tax credit to pay the income tax on sale of stock.

[USA in a Chevrolet]

A friend in my same neighborhood just decided to go solar and the payback is about 14 years, depending on the annual increases from Duke Energy.
That's not attractive enough for me right now.

What made it attractive to me know was we are away months at a time. Put AC on 83 degrees & system is producing $100 plus a month.